Mellon Enterprise Cash Management Introduces New Online Wholesale Lockbox Setup Forms PITTSBURGH, March 1 /PRNewswire-FirstCall/ -- Mellon Enterprise Cash Management today announced that its private label customers can now establish Wholesale Lockbox services via the Web, enabling faster and easier service with less administrative effort. Available via EnternetBank(R) -- Enterprise's Web-based information reporting and transaction initiation service -- the Web forms simplify the process by allowing banks to set up their business clients with Wholesale Lockbox services using advanced request- tracking features and system intelligence designed to minimize errors. With the adoption of wholesale lockbox services by small businesses and middle market companies on the rise, more banks are looking for easier and cost effective ways to expand or introduce treasury capabilities to meet their business customers' needs. Outsourcing through Mellon Enterprise's private- label wholesale lockbox service enables banks to add a strong fee-based revenue stream without making significant investments in technology and infrastructure. Enterprise recently completed a successful pilot of the Web Wholesale Lockbox setup forms with several customers. "The introduction of this online capability is indicative of Mellon's ongoing effort to enhance our private- label capabilities," said Robert W. Stasik, executive vice president and head of Mellon Global Cash Management (GCM). "We want to make it easy for our bank customers to do business with us and, in turn, streamline our bank customers' processes." EnternetBank automatically edits each form as it is completed and submitted, determining if additional information is needed or if required fields were left blank. A built-in help feature provides assistance in completing the forms. An Enterprise implementation specialist reviews the form online and either sends back an approval for the client's records or returns an unapproved form for editing and resubmission. Current plans include introducing online setup forms for disbursement services in the first half of 2005 and continuing to convert all of Enterprise's setup forms to an online version throughout the year. Enterprise offers access to Mellon's nationwide lockbox network with operations in seven strategically located processing sites: Atlanta, Boston, Chicago, Dallas, Los Angeles, Philadelphia and Pittsburgh. Because the network provides uniform operational procedures, consistent processing methods and standard processing hardware and software, bank customers can expect the same high quality service no matter which lockbox sites they choose. Enterprise also offers an "EZLockbox" service for customers for whom float and availability are not primary concerns. Mellon Global Cash Management (GCM) provides a full range of cash management outsourcing solutions to small, mid-sized and large financial institutions through its Enterprise business unit. Available services include wholesale and retail lockbox, controlled disbursement, positive pay, account reconciliation, data exchange, electronic cash management information reporting, wire transfer and ACH origination. Banks that private label/outsource cash management services can realize the benefits of significant fee-based revenues, while avoiding considerable capital investments. Mellon Global Cash Management, a payments industry leader synonymous with quality performance and known for its innovation and expertise, designs comprehensive solutions through its broad line of cash management services to meet the specialized treasury needs of corporations, nonprofit organizations and financial institutions. Recently, an independently administered customer satisfaction survey revealed that Mellon GCM continues to distinguish itself from its competition in the areas of operating quality, commitment to cash management and customer service. In addition, Mellon GCM was one of only two providers to achieve an A+ average for product performance in the 2004 Phoenix-Hecht(R) Quality Index(TM) of 33 major cash management providers. Throughout 2005, Mellon GCM is celebrating its 50th anniversary in remittance processing. In addition, Mellon GCM is the only electronic payments services provider in the U.S. to successfully complete both a Level 3 Capability Maturity Model(R) (CMM(R)) assessment for its software engineering practices and attain ISO 9001:2000 Registration. More information on Mellon GCM is available at http://www.mellon.com/gcm . Mellon Financial Corporation is a global financial services company. Headquartered in Pittsburgh, Mellon is one of the world's leading providers of financial services for institutions, corporations and high net worth individuals, providing institutional asset management, mutual funds, private wealth management, asset servicing, human resources and investor solutions, and treasury services. Mellon has more than $4.0 trillion in assets under management, administration or custody, including $707 billion under management. Its asset management companies include The Dreyfus Corporation and U.K.-based Newton Investment Management Limited. News and other information about Mellon is available at http://www.mellon.com/ . DATASOURCE: Mellon Financial Corporation CONTACT: Ron Gruendl, Corporate Affairs of Mellon Financial Corporation, +1-412-234-7157, or Web site: http://www.mellon.com/ http://www.mellon.com/gcm

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